A company without any UBO based on ownership and voting rights in a subsidiary
In this case, the company’s CEO will be the UBO since there are no UBOs based on ownership and control structure.
In the below example:
- There are five owners in which each is the indirect owner of 20 % of the company through their holding company
- The CEO is the UBO since there are no beneficial owners who have more than 25 % of the ownership or voting rights
This is how the ownership and control structure is created
In 6 - No UBO based on ownership and voting rights - parent company, the CEO for the Holding company was the UBO. The UBO status will not apply to subsidiaries. Therefore, will the CEO from the company of interest be the UBO. The CEO for the company of interest is created with the same special right as in 6 - No UBO based on ownership and voting rights - parent company.
In the UBO tab (Ultimate Beneficial Ownership), you can see all the officers defined as UBO.
The reason for UBO status, in this case, is the special right Executive management.